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Property Millionaire

Feb 21, 2008
It is estimated that nearly 90% of the world's affluent individuals become rich by investing in property. Anyone who has even a passing interest in property investment can become a property millionaire. In fact, nowadays, making large amounts of money in property is easier than it has ever been.

For becoming a property millionaire, you must have a good financial and legal team. Property investment is a team game. Therefore, if you wish to make some serious money, you must network with other investors and must have a very good team of advisors as well as contacts. Anyone who wants to be property millionaire needs to know experts and professionals such as estate agents and brokers in the target area. If you are planning to put up your investments in for subdividing or building, you must contact local town planners. To structure your purchases to maximize tax and to protect your wealth, you will require a good accountant, mortgage broker or banker you can give you principal pre-approvals to help you buy specific type of property.

You should also know good valuers or appraisers, building inspectors, lawyers, insurance agents, property managers and other such professionals. If you are interested in building and construction then apart from this you must know surveyors, technical engineers, architects and tradesmen. You can develop your network quickly through business cards. A professional business card will tell your contacts, how serious you are about your work. If you want to be a property millionaire then you have to get special attention.

Just like with other business, though, this can be a hard and risky game. You must take advice of someone who is already a property millionaire. Your mentor or advisor can help you to follow your chosen real estate investment strategy.

To be a property millionaire you have to approach experienced and level-headed people who can help you choose some successful investment strategies that even you can implement. However, one has to remember that you shouldn't put undo stress and strain on yourself while undergoing such processes. Your property millionaire mentor can help you work on your weaknesses, so that you may not fall prey to misconceptions and confusions that can hold you back from becoming a property millionaire.

You must ignore popular pretentious beliefs such as "You can't make money without money", "Property investment is only for the wealthy", "It's a risky business" or "Property investment is only for experienced people", you have to believe in yourself and acknowledge your abilities as well as the potential risks involved in this business. There is some amount of truth in each of these statements but accurate knowledge and perfect strategies can help you to get overcome many obstacles.

For succeeding in property investment and to become a property millionaire, you must do proper homework and the first step towards achieving your goal is to do a thorough research of the market. Once you are well acquainted with market prices of region you are interested in, you can a set minimum profit target and estimate property purchases based on a particular profit level.
About the Author
Parmdeep Vadesha is a property investment expert and founder of the largest community of property entrepreneurs on the web who buy below market value properties from distressed homeowners facing repossession, divorce and bankruptcy. He writes a monthly newsletter for 70,000 property investors worldwide - http://www.Property-System.com
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